According to the FSOC, issues at FTX had “precipitated price decreases in Bitcoin and other crypto-assets” but “had a limited impact on the broader U.S. financial system.”
FTX liquidators’ legal team urges cooperation with Bahamian authorities amid favoritism allegations
According to lawyers representing FTX’s provisional liquidators, allegations that Bahamian officials were giving residents preferential treatment were “wholly without merit.”
Dutch central bank says KuCoin is not licensed and ‘illegally offering services’
“This may increase the risk of customers becoming involved in money laundering or terrorist financing,” said De Nederlandsche Bank.
US Trustee names Wintermute on creditor committee in FTX bankruptcy case
The committee would play a role in representing creditors who lost funds or were otherwise affected by the downfall of FTX, reported to be one million people.
FCA’s incoming chair calls for further crypto regulation
The new chair of the UK’s FCA makes condemnatory comments about cryptocurrencies ahead of his tenure in 2023.
SBF’s Bahamian prison reported for ‘harsh’ conditions and ‘degrading treatment’ — US State Dept
Bahamian Commissioner of Correctional Services Doan Cleare reportedly said that most of the facilities had been renovated since 2021 and now had no “issues with rodents.”
Here is why Bitcoin price gave back all its intraday gains
BTC price retraced all of its intraday gains after Fed chair Jerome Powell issued hawkish statements related to the central bank’s 50 basis point interest rate hike.
Senate FTX hearing: calls for regulation and crypto criticisms aplenty
“Short of enacting draconian authoritarian policies, cryptocurrency cannot be stopped,” said Senator Pat T
‘You can commit fraud in shorts and T-shirts in the sun,’ says SDNY attorney on SBF indictment
Damian Williams called on individuals who may have been involved in alleged illegal actions at FTX and Alameda to “come see us before we come see you,” hinting at future arrests.
FTX hearing: US lawmakers criticize use of Quickbooks, creepy dough, and ‘conscientious stupidity’
Some members of the U.S. House of Representatives questioned whether Sam Bankman-Fried’s actions at FTX and Alameda may have been willful or due to gross incompetence.
‘Old money has all but fled,’ Huobi co-founder discusses challenges of running $400M VC fund
Jun launched the fund amidst the bear market this year and continues to invest in Web 3.0 companies.
CFTC files lawsuit against Sam Bankman-Fried, FTX, and Alameda for fraud
According to the federal regulator, SBF and FTX companies “used FTX customer funds for a variety of personal expenditures” including real estate and private jets.
FTX was an ‘utter failure of corporate controls at every level of an organization’, says CEO
Countering some of SBF’s claims, John Ray said that “FTX US was not operated independently of FTX.com” and a Chapter 11 filing was necessary to avoid a bank run.
NYC Mayor stands by Bitcoin pledge amid bear market, FTX: Report
During Eric Adams’ time in office, the NY state government passed a law which will implement a two-year moratorium on proof-of-work mining, and the crypto market turned bearish.
Data shows the Bitcoin mining bear market has a ways to go
The 2022 bear market is impacting BTC miners in more extreme ways than previous downturns, especially with so many publicly listed miners struggling with their debt obligations.
Who’s expected to testify before Congressional hearings on FTX?
FTX CEO John Ray, actor Ben McKenzie and law professor Hilary Allen have been confirmed, while SBF, Kevin O’Leary, and Alameda CEO Caroline Ellison could still testify.
Approach with caution: US banking regulator’s crypto warning
The Office of the Comptroller of the Currency (OCC) said the digital asset industry was maturing but was “not yet robust” in its risk management.
US lawmakers introduce bill aimed at reporting on crypto miners’ potential environmental impact
The Crypto-Asset Environmental Transparency Act would instruct the Environmental Protection Agency to report on crypto mining activity consuming more than 5 megawatts.
Total crypto market cap falls to $840 billion, but derivatives data shows traders are neutral
Regulatory pressure continues to limit each upside breakout, but data shows some compelling reasons for an eventual crypto market rally.
US lawmakers question federal regulators on banks’ ties to crypto firms
“FTX’s collapse shows that crypto may be more integrated into the banking system than regulators are aware,” said Senators Elizabeth Warren and Tina Smith.